Answer:
The correct answer is B) Psychological; sociocultural.
Explanation:
Social influence is a social psychological process in which one or more people influence the behavior, attitude, feelings, opinion and / or attitudes of others. In this process, factors such as persuasion, social conformity, social acceptance and social obedience are taken into account.
The demand curve in a purely competitive industry is down sloping , while the demand curve to a single firm in that industry is perfectly elastic.
<h3>What is demand curve?</h3>
Demand curve can be defined as a graph that help to show the price of product as well as demand quantity.
In a situation where the demand curve is down sloping this means that a manufacturer intend to go for the price of goods and service and the quantity demanded in order to increase profit .
Inconclusion the demand curve in a purely competitive industry is down sloping.
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